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Side-by-side financial comparison of TripAdvisor, Inc. (TRIP) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
UL Solutions Inc. is the larger business by last-quarter revenue ($789.0M vs $411.0M, roughly 1.9× TripAdvisor, Inc.). UL Solutions Inc. runs the higher net margin — 8.5% vs -9.2%, a 17.7% gap on every dollar of revenue. On growth, UL Solutions Inc. posted the faster year-over-year revenue change (6.8% vs 0.0%). UL Solutions Inc. produced more free cash flow last quarter ($86.0M vs $-122.0M). Over the past eight quarters, UL Solutions Inc.'s revenue compounded faster (8.5% CAGR vs 2.0%).
Tripadvisor is an American company that operates online travel agencies, comparison shopping websites, and mobile apps with user-generated content.
The UL enterprise is a global private safety company headquartered in Northbrook, Illinois, composed of three organizations, UL Research Institutes, UL Standards & Engagement and UL Solutions.
TRIP vs ULS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $411.0M | $789.0M |
| Net Profit | $-38.0M | $67.0M |
| Gross Margin | 91.5% | 49.7% |
| Operating Margin | -8.3% | 15.0% |
| Net Margin | -9.2% | 8.5% |
| Revenue YoY | 0.0% | 6.8% |
| Net Profit YoY | -3900.0% | -17.3% |
| EPS (diluted) | $-0.32 | $0.33 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $411.0M | $789.0M | ||
| Q3 25 | $553.0M | $783.0M | ||
| Q2 25 | $529.0M | $776.0M | ||
| Q1 25 | $398.0M | $705.0M | ||
| Q4 24 | $411.0M | $739.0M | ||
| Q3 24 | $532.0M | $731.0M | ||
| Q2 24 | $497.0M | $730.0M | ||
| Q1 24 | $395.0M | $670.0M |
| Q4 25 | $-38.0M | $67.0M | ||
| Q3 25 | $53.0M | $100.0M | ||
| Q2 25 | $36.0M | $91.0M | ||
| Q1 25 | $-11.0M | $67.0M | ||
| Q4 24 | $1.0M | $81.0M | ||
| Q3 24 | $39.0M | $88.0M | ||
| Q2 24 | $24.0M | $101.0M | ||
| Q1 24 | $-59.0M | $56.0M |
| Q4 25 | 91.5% | 49.7% | ||
| Q3 25 | 92.6% | 50.3% | ||
| Q2 25 | 92.1% | 49.4% | ||
| Q1 25 | 93.2% | 48.4% | ||
| Q4 24 | 93.4% | 47.4% | ||
| Q3 24 | 92.5% | 49.0% | ||
| Q2 24 | 92.8% | 50.1% | ||
| Q1 24 | 93.7% | 47.6% |
| Q4 25 | -8.3% | 15.0% | ||
| Q3 25 | 12.7% | 19.9% | ||
| Q2 25 | 11.2% | 17.9% | ||
| Q1 25 | -3.8% | 15.5% | ||
| Q4 24 | 0.2% | 15.6% | ||
| Q3 24 | 13.2% | 17.8% | ||
| Q2 24 | 7.2% | 17.3% | ||
| Q1 24 | -3.8% | 13.6% |
| Q4 25 | -9.2% | 8.5% | ||
| Q3 25 | 9.6% | 12.8% | ||
| Q2 25 | 6.8% | 11.7% | ||
| Q1 25 | -2.8% | 9.5% | ||
| Q4 24 | 0.2% | 11.0% | ||
| Q3 24 | 7.3% | 12.0% | ||
| Q2 24 | 4.8% | 13.8% | ||
| Q1 24 | -14.9% | 8.4% |
| Q4 25 | $-0.32 | $0.33 | ||
| Q3 25 | $0.43 | $0.49 | ||
| Q2 25 | $0.28 | $0.45 | ||
| Q1 25 | $-0.08 | $0.33 | ||
| Q4 24 | $0.03 | $0.40 | ||
| Q3 24 | $0.27 | $0.44 | ||
| Q2 24 | $0.17 | $0.50 | ||
| Q1 24 | $-0.43 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $295.0M |
| Total DebtLower is stronger | $819.0M | $491.0M |
| Stockholders' EquityBook value | $645.0M | $1.3B |
| Total Assets | $2.6B | $2.9B |
| Debt / EquityLower = less leverage | 1.27× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $295.0M | ||
| Q3 25 | $1.2B | $255.0M | ||
| Q2 25 | $1.2B | $272.0M | ||
| Q1 25 | $1.2B | $267.0M | ||
| Q4 24 | $1.1B | $298.0M | ||
| Q3 24 | $1.1B | $327.0M | ||
| Q2 24 | $1.2B | $295.0M | ||
| Q1 24 | $1.2B | $344.0M |
| Q4 25 | $819.0M | $491.0M | ||
| Q3 25 | $821.0M | $544.0M | ||
| Q2 25 | $822.0M | $608.0M | ||
| Q1 25 | $1.2B | $653.0M | ||
| Q4 24 | $831.0M | $742.0M | ||
| Q3 24 | $832.0M | $797.0M | ||
| Q2 24 | — | $810.0M | ||
| Q1 24 | — | $879.0M |
| Q4 25 | $645.0M | $1.3B | ||
| Q3 25 | $707.0M | $1.2B | ||
| Q2 25 | $627.0M | $1.1B | ||
| Q1 25 | $643.0M | $970.0M | ||
| Q4 24 | $943.0M | $904.0M | ||
| Q3 24 | $944.0M | $872.0M | ||
| Q2 24 | $857.0M | $769.0M | ||
| Q1 24 | $825.0M | $671.0M |
| Q4 25 | $2.6B | $2.9B | ||
| Q3 25 | $2.8B | $2.9B | ||
| Q2 25 | $2.9B | $2.9B | ||
| Q1 25 | $2.8B | $2.9B | ||
| Q4 24 | $2.6B | $2.8B | ||
| Q3 24 | $2.7B | $2.9B | ||
| Q2 24 | $2.8B | $2.7B | ||
| Q1 24 | $2.7B | $2.8B |
| Q4 25 | 1.27× | 0.39× | ||
| Q3 25 | 1.16× | 0.46× | ||
| Q2 25 | 1.31× | 0.56× | ||
| Q1 25 | 1.81× | 0.67× | ||
| Q4 24 | 0.88× | 0.82× | ||
| Q3 24 | 0.88× | 0.91× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.31× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-103.0M | $144.0M |
| Free Cash FlowOCF − Capex | $-122.0M | $86.0M |
| FCF MarginFCF / Revenue | -29.7% | 10.9% |
| Capex IntensityCapex / Revenue | 4.6% | 7.4% |
| Cash ConversionOCF / Net Profit | — | 2.15× |
| TTM Free Cash FlowTrailing 4 quarters | $163.0M | $403.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-103.0M | $144.0M | ||
| Q3 25 | $44.0M | $155.0M | ||
| Q2 25 | $202.0M | $147.0M | ||
| Q1 25 | $102.0M | $154.0M | ||
| Q4 24 | $-3.0M | $130.0M | ||
| Q3 24 | $-43.0M | $150.0M | ||
| Q2 24 | $51.0M | $103.0M | ||
| Q1 24 | $139.0M | $141.0M |
| Q4 25 | $-122.0M | $86.0M | ||
| Q3 25 | $25.0M | $109.0M | ||
| Q2 25 | $177.0M | $105.0M | ||
| Q1 25 | $83.0M | $103.0M | ||
| Q4 24 | $-26.0M | $72.0M | ||
| Q3 24 | $-63.0M | $84.0M | ||
| Q2 24 | $36.0M | $47.0M | ||
| Q1 24 | $123.0M | $84.0M |
| Q4 25 | -29.7% | 10.9% | ||
| Q3 25 | 4.5% | 13.9% | ||
| Q2 25 | 33.5% | 13.5% | ||
| Q1 25 | 20.9% | 14.6% | ||
| Q4 24 | -6.3% | 9.7% | ||
| Q3 24 | -11.8% | 11.5% | ||
| Q2 24 | 7.2% | 6.4% | ||
| Q1 24 | 31.1% | 12.5% |
| Q4 25 | 4.6% | 7.4% | ||
| Q3 25 | 3.4% | 5.9% | ||
| Q2 25 | 4.7% | 5.4% | ||
| Q1 25 | 4.8% | 7.2% | ||
| Q4 24 | 5.6% | 7.8% | ||
| Q3 24 | 3.8% | 9.0% | ||
| Q2 24 | 3.0% | 7.7% | ||
| Q1 24 | 4.1% | 8.5% |
| Q4 25 | — | 2.15× | ||
| Q3 25 | 0.83× | 1.55× | ||
| Q2 25 | 5.61× | 1.62× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | -3.00× | 1.60× | ||
| Q3 24 | -1.10× | 1.70× | ||
| Q2 24 | 2.13× | 1.02× | ||
| Q1 24 | — | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
ULS
| Industrial | $352.0M | 45% |
| Ongoing Certification Services | $259.0M | 33% |
| Software And Advisory | $102.0M | 13% |
| Software | $75.0M | 10% |
